At its most basic level, a bank reconciliation only requires two items – what is being reconciled and what it is being reconciled against.
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Since bank reconciliations are account-specific, this requires obtaining current records of cash totals that should be present for a single account only. 

The most common question we hear is “What is a bank reconciliation?” followed immediately by “How often do I need to do a bank reconciliation?”
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Overstretched bookkeepers and accountants as well as owners and employees wearing many hats tend to de-prioritize the need for regular bank reconciliations because the process can be time consuming. 

Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of your basis in property, prepare your tax returns, and support items reported on your tax returns.

​More businesses are making the switch to cloud accounting. To be sure, Founder and CEO of Saugatuck Technology Bill McNee has made the claim that by this year, “over 60 percent of enterprises will have half or more of their infrastructure on cloud-based platforms.” 

Regardless of whether your company is seeking to make it past the startup phase, strengthen its competitive position, or achieve some other goal, having a plan is a vital step in achieving organizational objectives.

If your list of strategic business drivers and corresponding goals is collecting dust on a shelf, there's a good chance that your company isn't doing enough to achieve its objectives. Businesses that actively monitor their progress on their stated goals are much more likely to find success as well as receive alerts that there is something off track.

If you've mapped out your company's operating  strategies before considering your strategic business drivers, you may be putting the cart before the horse. Your organization's strategy is a critical statement that outlines how you expect to achieve certain goals. But what are the underlying drivers of your company's beliefs, actions, and desire for success? Defining these should come first, and then your corresponding strategies and projects will follow.